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Mylan slips lower

The shares hit a fresh 52-week at $37.41, with the stock having come off that low. Support is at $37.41 and then at $36.34. Resistance is at $39.35.

07

Oct

28

Mar

MYLMylan

$38.12

-0.35 (-0.91%)

09/22/16

LEER

09/22/16NO CHANGELEEROutperform

No tangible outcomes likely to result from Mylan EpiPen hearing, says Leerink

Leerink analyst Jason Gerberry believes no tangible outcomes are likely to result from the House Committee Hearing on Mylan's EpiPen. Nonetheless, the analyst highlights that CEO Heather Bresch stated at the hearing that the company has invested in a new formulation of EpiPen, with a 24-month shelf life versus the current 12-month. Gerberry believes this is a relatively modest benefit and says he is skeptical the line extension will be able to preserve meaningful share if/when an AB-rated generic gets approved. The analyst reiterates an Outperform rating on the shares.

09/22/16

ARGS

09/22/16NO CHANGEARGS

Mylan weakness creates good entry point, says Argus

After Mylan's stock fell 17% over the last month, Argus analyst Jacob Kilstein thinks that the stock has reached an attractive entry point, He says that the company's new generic EpiPen will cannibalize branded sales but should help it beat upcoming generic competitors. He thinks that the stock is undervalued and keeps a Buy rating on the stock.

09/23/16

BERN

09/23/16NO CHANGEBERN

Mylan generic Epipen to lower EPS by about 10%, says Bernstein

Bernstein analyst Aaron Gal estimates that Mylan's decision to introduce a generic version of its EpiPen will create a drag of about 10% on its EPS. After viewing the Congressional hearings on the device, Gal continues to believe that a competitor to EpiPen will hit the market before the end of 2018. He keeps a $60 price target and Outperform rating on Mylan.

09/30/16

LEER

09/30/16NO CHANGETarget $45LEEROutperform

Mylan price target cut to $45 on lower EpiPen estimates at Leerink

Leerink analyst Jason Gerberry lowered his EpiPen sales forecasts by 33-45% from 2017-2021 in light of recent company updates, including its plan to launch an authorized generic of the emergency treatment later this year. While Mylan "appears on the right side of the law" regarding the latest Medicaid rebate controversy, Gerberry believes investors should consider the risk of a future settlement related to the issue. He cut his price target on Mylan shares to $45 from $55, but keeps an Outperform rating on the stock as he sees cash flows being sufficient to justify the current price.

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